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preventing the u.s. economy from falling off the fiscal cliff. while washington struggles on a fiscal cliff deal, what should you do about your portfolio? jeff applegate has some answers. he's chief investment officer at morgan stanley smith barney. and home depot hammers home strong gains and lays the foundation for a strong quarter ahead. that and more tonight on "n.b.r." it was another day of cliff- watching here on wall street today. investors and traders are waiting to hear what happens at an important white house meeting on friday between president obama and congressional leaders. they will be talking about ways to solve the so-called "fiscal cliff" dilemma. investors appear cautious about making any big moves until they know whether the cliff will trigger increases in capital gains and dividend taxes. the dow fell almost 59 points, the nasdaq lost 20, and the s&p was down five. meanwhile, in washington, congress returned to work for the first time since september. lawmakers face a long "to-do list," and getting a deal on that fiscal cliff is right at the top. darren
credit rating on u.s. debt. right now moody's has a negative outlook on the u.s. economy. worries about a fiscal freefall, kept wall street stocks in check: the dow and nasdaq fell a fraction, while the s&p was up a fraction. american businesses are not only concerned about the fiscal showdown in washington, but also about corporate earnings. nearly all of the s&p 500 firms have reported numbers, and profit growth is the slowest since the recession in 2009. and the majority of firms are also reporting disappointing revenues. here's erika miller with a look back at the quarter, and a look ahead. >> reporter: earnings season is drawing to a close. and for many firms it's good riddance. nearly all of the s&p 500 have reported quarterly numbers, and according to s&p capital i.q., profits are up a measly 2%. thomson reuters and factset crunch the numbers slightly differently, and believe profits are actually down. the bigger concern is revenue growth. s&p has the most optimistic analysis with a 0.6% gain. the other two firms see negative growth. firms face an almost universal problem: a slow
with a number of leading economist and political scholars on the economy, national security and so-called fiscal cliff. economists for peace and security and the new america foundation's economic growth program are hosting this panel discussion. this is expected to last to go to early this afternoon. this is live coverage on c-spa c-span2. >> questions of military security, national security, economic security, social security, with the broad questions that we have all been grappling with four, intensely for the last four or five years. we are, strictly speaking, a professional organization. we are not an advocacy or lobbying group. we gather together, professionals working on these questions represent only themselves, and who had the advantage i believe of being able to speak to you with clarity and conviction. eps is also a membership organization. our website is www.eps u.s.a..org. and i would invite all of you who are here and all who may be watching to visit the website. and if you share the goals and objectives of the organization to join us, or to lend us your support. we have a great adv
income tax of 15%. let's make the gift tax 15%. make estate tax 15%. you will see the economy explode. you will see all kinds of revenue come in. use the president's own words. everybody should pay their fair share of flat tax. melissa: i couldn't agree with you more. it is a fantastic idea. it will also never happen. so what do you think is the real solution that we could come to on this? >> well, like i say, it wasn't mitt romney's --. melissa: i no. are republicans going to have to give in and raise marginal tax rate, yes or no? what do you think?. >> i know a lot of us will not. i can't speak for everybody but i know an awful lot of us who simply will not because we know know the damage that will be done to the economy. people will lose their jobs. they will lose their benefits. they will lose their health insurance. too many people will be hurt. so we really do not want to see this president hurt anymore people as he has. melissa: is it worth going over the fiscal cliff? is that better than caving on this issue? >> well, what we've seen in our negotiations over the last two years
everyone will be affected if there is no deal. it could throw the economy back into recession and cost no income families about $2,000 more next year. those are some of the latest headlines on c-span radio. [video clip] >> i enjoyed watching book tv -- >> i enjoy the rebroadcast of various television news programs. i like that they provide coverage without the sound bites. it really gives me an opportunity to consume as much information on what is going on. c-span is a great way to kind of get an unfiltered view of the day's events. >> c-span, created by america's cable companies in 1979, brought to you as a public service by your television provider. >> "washington journal" continues. ,ost: we're back with evan bayh now co-founder of the no labels organization. let me begin with the petraeus resignation. is your reaction -- what is your reaction? guest: it is if personal tragedy. he was doing a fabulous job as director. we're fortunate that we have a great leadership team. michael morrell house now now stepped- hasno in. host: did he have to resign? guest: my own answer is yeah, i thi
at stimulating the economy of the people's republic. but it seems like very few people in the west have noticed. i have to tell you, our big industrial stocks, they're trading at valuations that assume a depressed chinese economy, one that's not going to get any better. look, that's just wrong. it's not empirical. it's not rigorous. we just got some data overnight which showed that china's exports have climbed to a five-month high. that is not something you see from an economy that is about to crash and burn, is it? i'm not saying that china is fabulous and should be jumping for joy because of the state of their economic climate. but i am saying that the chinese negatives seem to be priced into all things china related. the chinese economy, i think, is in the process of bottoming. and based on what's been happening, i think it will have the kind of gentle, soft landing that very few investors, particularly the short sellers, are expecting. in other words, china is far from great. it's a heck of a lot better than the vast majority of people think. a lot of that is thanks to the chinese governmen
broader implications for the stock market and economy? >> yes. the small-business start-ups are down. they will continue to be down. we have fewer ipos now than we had ten years ago. compans just don't want to be public because of all of the regulations. venture capital is down. there is less investment in new businesses. gerri: whose fault is that? whose fault is that? >> i think the ault s directly on the government because they have added a tremendous amount of insecurity. wh we are talking abot with obamacare, as of 2014, a barrage of provisions, taxes. i mean, what theyaresaying is that they are declaring war on business. this idea that what apple bees is doing is wrong is unbelievable. they have to make a profit. if they can make a profit, they have to reduce thir employment. gerri: you say that will happen with a lot of businesses across the country, presumay here are lots of ways to get -- more an one way to find a solution. what do you think would work at this point to get these two sides together to find some kind of common ground and get the problem solved? >> we aren't tr
impact. >> definitely. year over year, oil demand is up. we've had very weak economy in europe. not much growth in the united states. but i think that's the trend we'll be playing out for the next few years. >> oil 110 at the moment. is that a fair price? >> there's premium built in because of geopolitical risks. i think premium is probably justifiable. you look at wti at $23 discount to where breptd is. that's not sustainable in the long time, but given inventory levels, that will stay. >> do you keep your trade on oil? >> we have neutral position, but we're short the front month. respe respect. we make money by rolling the contracts the other way around. we're long oil in the 12 months forward rolling in to the 13th month and we end up with little more oil with that strategy. so more of a curve play. >> all right. patrick, you're with us for the first half hour. also we'll be out to new york for a check of the retail sector in the wake of super storm sandy. some department stores are getting ready to report third quarter numbers. >> we're also live in italy ahead of the three biggest b
it is a slope, it is going to hurt the economy. it's not going to happen overnight, we're not going to go into a major recession overnight, but, you know, the democrats clearly don't want to sacrifice unemployed workers and, you know, and the economy as a whole to, you know -- and so that's where they're vulnerable. and this is hypersimplified. i mean, i don't even -- you know, the tax increase is not just a bush tax cut, but it's a payroll tax cut, and unemployment is another big factor there, the extended unemployment. so the, you know, sort of a point -- okay. well, okay, i'm going to skip ahead, but just a couple of points to be made here. you know, economists are all glad that now -- or keynesians are glad that there's an implicit, you know, that the whole discussion around the fiscal cliff implies that you're a keynesian, that you really believe the economy's going to go south if you, if you close the deficit even though it's not usually stated in those words. you know, a couple of details are, you know, yes, generally speaking all else equal you reduce the deficit, you will have, y
. >> probably. stuart: could go up. >> yeah. stuart: but tell me how you get serious growth in the economy with this set of policies that the president's laid out? how do you get 4, 5, 6% growth? how do you get there with this? >> because you just can't raise taxes and you just can't cut. you also have to make investments and tackle the deficit. you have to do all four. no one thing is going to fix this mess and everybody knows that. >> okay, look. >> yes. >> are you going to tell me, are you going to smell out the economics of it. that you raise taxes and you raise spending on education infrastructure and that you think that will give us 4 or 5% growth. really? >> no, and we're going to make cuts and we're going to tackle the deficit. >> going to promise to make cuts down the road. the president has not said. has not laid out any plans to reform entitlements, i mean, change their structure. he's just going to keep on paying. >> stuart, not yet. i mean, that's why there are negotiations and frankly, the democrats have a much stronger hand than they had in 2010, 2011 and the republicans kno
about in the election. >> i need to know that they should focus on creating jobs and growing the economy. >> we have a jobs crisis. >> we're going to create one million new manufacturing jobs. we're going to train two million workers. >> the answer isn't government. the answer is more good jobs. >> what happened to jobs? when are we going to talk about jobs? >> it's really funny because during the campaign trail, both romney and the president they voided the whole fiscal cliff. there was little talk about what washington will have to do. here we are and have to deal with the major issues that could have a negative impact on the economy. the people who were pushing big deficit packages, even the business communities say, if we get a deal, that would be good for the economy and grow jobs. but if there are tax increases, that could set the economy back. something the cbi warns if nothing happens could send the economy back into recession. the message in washington is how do we avert this crisis. it's not how are we going to create jobs right now. >> i guess we'll have to wait a little longe
that encourages growth in the economy, and in a tax system that is fair, honest and not inhicktive of growth, and understand this. this president, with this benghazi debacle staring him in the face, and that will -- he will have to come to terms with that, cannot afford to be the president that allows massive rtz in defense. -- cuts inn defse, leverage that situation, he is just as afraid of being caught as the guy who was irresponsible in our national security allowing a massacre of our diplomats in libya, and n willing to cut defense, he is just as affaid of that scenario. neil: there might be somethihing to that. but let me ask you about tea rty, you sense in a over played their hand. you know, planted seeds for this, thisd they get too caulky, too overzealous, did they turn economic conservative itcism wht happened ? >> the republican party, had its losses in social policy. and they had losses in immigration policy. if you look at tea party movement this movement, is one that has been trying to discipli republican candidates forffice. stay focusseon theiscal policy issues, smaller govern
-book "beyond outrage:what has gone wrong with our economy and our democracy and how to fix it" is now available on paper work. good evening. >> good evening. >> eliot: i want to pars where the republicans are. has the republican relationship willing to increase marginal tax rates. >> no, they have not said that they're willing to increase marginal tax rates at all. they said they're willing to increase revenues which is different from increasing rates. you can increase revenues by closing a few loopholes, putting a limit on certain deductions but they have not come around in any way something that equals grover norquist and the pledge. >> eliot: i don't want to jump on the media for mischaracterizing but the media wants to see a conversion of interest or views between the president and john boehner. i'm not sure that i see it yet. the president said you have to go to the clinton area, 36% top marginal rate. and you said a few loopholes that's fine but not the real battle we should be undertaking. am i correct? >> now boehner we're back to where we were before the election in some respects. ther
stop any economy in it's tracks. [ sound of train ] >> i mind why we aren't pummeled instead of being unchanged like yesterday is because there are factors that need to be flushed out on this show. ones that explain why things aren't going the intuitive way. i find this hope somewhat incredible. given the terrible track record of congress and the president. and the huge goal between the parts. after all, if you are president oba obama, you believe the election is over and your campaign received a ringing endorsement. but if you are a republican a, u have to believe that those republicans that do not want to rise above politics are banks on massive declines in spending to wreck the economy f. if you are a republican, in permanent campaign mode, i'm sure one of your advisers going off the fiscal cliff might be the best thing in terms of the election. worse, if you are a democrat, you might think the defense spending cuts could be coming and you might think that is good. there is a sense that those who want to stimy the president are going to be targeted by other politicians and yes, the
as the debt starts to really become a cancer on the economy. the economy will collapse. >> reporter: wait a minute. the economy will collapse? you mean, worse than what we went through in 2008? >> oh, yes, it would be much worse if it continues going on unfettered. >> reporter: long-term we're in big trouble, far worse than january's fiscal cliff, but short-term kicking the can down the road. >> the interesting thing is because the economy is still growing so sowly, that if we -- so slowly, if we kick the can for another year and don't do immediate deficit reduction, our economy is projected to do better than if we had deficit in the short-term. >> reporter: that sounds good. you don't have to raise taxes or cut popular programs. kick the can far enough down the road, you're not in office any more and it's some other politician's problem, which is exactly how we got here in the first place. deer recollect. >> thank you, gary. >>> we've got a possible murder suicide tonight involving three relatives. three small kids, an uncle and a grand mom found dead in a garage in toledo. investigators
line on concerns about the so- called fiscal cliff. some economists believe the economy could gain strength if lawmakers can reach a deal sooner rather than later. bloomberg news reports google is being pressured by the ftc to resovle anti-trust issues or face a lawsuit in the next few days. google is accused of abusing its dominance in the internet world. and wednesday is the next lock- up expiration on facebook, allowing employees to sell their shares of fb. good morning to larry shover of sfg alternatives. good to have you on the show larry. there seems to be a shift in the market. everybody is so fixated on this fiscal cliff. is the market going to be rather lackluster for a couple of days here because of that? > > i think it is. i think people are really concerned about something they should be concerned with. but the fact is, something will break. they will reach some sort of compromise. it might not be something that everybody likes, but i think the market will end up liking it, because there will be stability, there will be a compromise, at least by the end of the year. > >
his first press conference after the election, and he would like to focus on the economy, but i think the majority of the journalists will just as more about petraeus and about general allen. the cia had eight directors in the past seven years, and it is bad for the cia, bad for the military, and bad for president obama. >> thanks for that. >> in germany, greenpeace is calling for a fresh start in the search for a long term dump for nuclear waste. >> the environmental group says a new commission should be set up to consider a range of possible sites with maximum input from the public. it says that after years of controversy, the government should give up on the old salt mine that has been the longest running candidate. >> research into weather this underground site is the right place to store nuclear waste started 35 years ago. the protests against it are just as old. greenpeace says it is time to change tack and that the search for a storage site for nuclear waste should start from scratch with greater involvement by ordinary people. >> a permanent storage site can only work if there
game and more than half of us fish. outdoor recreation economy across this country contributed some $646 million in direct spending to this u.s. economy. fishing and00ing is not just recreation, it is a critical part of our economy. in montana, hunting and fishing alone brings $1 billion a year to our economy. nearly as much as the state's cattle industry. it drives and sustained jobs, and with hunting season in full swing and thousands of montanaians hunting in the back country over the thanksgiving weekend, this bill is as timely as ever. mr. president, the sports men's act of 2012 is balanced, bipartisan, and widely supported. it is also fiscally responsible. the bill has no cost. mr. president, before the senate went out of session, we voted to move forward with this bill by a vote of 84-7. 84-7. it was a resounding approval to preserve some of our most productive habitat, to pass on the hunting tradition and to entrust them with the land and water we share. now it's time to get this bill across the finish line, to approve a bill with widespread support that preserves our outdoo
said they would damage the economy. our economy is growing slower now than it was then. we are really regulating to disaster. >> epa in 2010, diana? $23 billion of regulatory costs for the year 2010. >> that's what epa says. it is really probably a lot more than that. i mean, thee regulations, the mercury, the car ever carbon, ozone, each cost $100 billion each. >> all right. >> they don't have to justify them with benefits because it is maximum achievable control technology. in other words, they want to get as much as they can out of the air and don't have to justify the benefits. >> all right. robert, let me bring you in. you got your own epa in california. and you got your own cap and trade in california. and you got your own tax hikes in california. i guess everybody is going to move to texas. is that true? leave town and go to texas? >> we are certainly going to do everything we can to prevent that. we are hoping to work with the governor and he will do the same. >> you don't really believe that, do you? i mean, governor brown wanted the tax hikes. governor brown is one of the bi
, butn monday, the prime minister had bad news r an economy already showing signs of strain. "this morning and, of the july- september qe was released. gdpas -3.5% on an annualized basis. >> japan is fighting on several fronts. exports have fallen drastically. exports to china a suffering d because of the consumer boycott started by the nationalization of an island chain claimed by both tokyo and bein the strong yen is making exports more expensive and many want intervention by the bank of japan. t economy moves further, japan will be back in a technical recession, defined as two consecutive quarters of reacon >> returning now to the top story, in your top finance ministers meeting in brussels to discussegree to bailouts. we're joined now with more from our brussels correspondent. ys it taking so long or eu finance ministers to agree on releasing the next tranche of funds f greece? >> the terms of the deal have to be renegotiated. the troika as recommended more time to take up paying off the debt of some of the more time ans more money. now there are intense discussions going on am
there is in the economy. i'm a little confused as to why you would think that would happen. >> what i'm saying is you could pick any target you want. picking targets is a far cry from actually making a difference on things like unemployment. targets are easy. >> but here's the thing. >> but the target is 2015. rates aren't movmoving. what are you suggesting? the fed was clear about this. >> if the rates go up, we're in a big, big problem because we cannot service the debt. they have to keep them down. >> very good point. >> i don't think that's what's behind fed policy. >> i do. >> when you think about higher interest rates, you have to consider why interest rates would be higher. they could be higher if there was more economic growth. more economic growth would mean higher tax revenue. in that regard, you wouldn't necessarily have to have these low interest rates. you could service a higher interest rate and a higher debt service if there was more economic growth. >> how do we get economic growth? >> when the private sector decides it's going to invest and spend and hire, maria. those are the source
cuts to expire given the impact that's predicted on the economy? >> look, one hopes that these warrings factions that we have in washington will reach a compromise before january 1st. >> but david corn says that's virtually impossible. >> i don't understand what's so hard about this because the other thing that bill kristol said is that back when the economy was strong, he referenced 82 to 85 in the reagan administration when marginal tax rates were 50%, the other time the economy was really strong was during the second clinton administration when marginal tax rates were 39.6%. that's what president obama is talking about doing. going back to 39.6%. the economy took off. this should be a no-brainer. you're asking people to pay a little bit more to help out the whole fiscal health of the nation. come on. it's time to -- people have been partying since it's been 1999 for like 25 years. it's time to do this very simple thing. >> martin, i would submit what's so hard about it is january 3rd is still ahead of john boehner. he still has to be reb elected speaker by his own caucus. i think the
. that's important in the economies of scale and fighting the inevitable battle with the opponent, the competitor. the other thing i didn't get to talk in the previous item that was alarming to us right now what staff is telling us is that their intention is to always have the commercial customers be an opt in. and in mirren they did not do it that way. they included commercial customers recently in their full opt out process. in san francisco most of the energy is used by commercial customers. we will not be able to achieve that big beautiful build-out that we're planning without those commercial customers being put into an opt out so enough of them stay in to get the bonding ability and the economies of scale to make sure that we can do the full build out and hire the thousands of people, et cetera. thanks. >> you said that marin opt in? >> no, marin, they did their initial thing a couple of years ago. they just completed their enrollment and enrolled all of their customers a few months ago, and that included commercial customers who were then able to opt out if they wanted to.
the action was inevitable there has been no news on the economy or the possibility of a deal to avoid the fiscal cliff. the cliff could cause the u.s. economy $800 billion and 3 million jobs. sends the u.s. back into recession. >> many people are worried about what this means for the country including the wealthy. >> the rich are selling essentially. we are seeing portfolio rebalancing for the wealthy willing to cut their tax bill in 2013. that's when capital gains taxes may go from 15 percent to 25 percent and dividend taxes may just the stock market being affected by the wealthy folks lacking to cut their tax liability. next year the estate fabtax is to rise 15 percent on estates worth more than $1 million. owners of big homes looking to sell sooner rather than later. a lot of people looking to get out. >> owners of cars affected by hurricane sandy or storm sandy when it hit the northeast. many people lost their cars. oo about 250,000. used car prices are going up as much as 1,000 dollars. drivers are looking to replace the used car or their car in general and they went to dealershi
the economy from the middle class out, that's not just a talking point. that's a concept that americans embraced. >> you don't have a mandate unless you believe you have a mandate. if you negotiate like you have a mandate. are you confident or are democrats confident the president is going to draw the hard line when he has to. >> the president will not give back. and they have gone so far to say -- it doesn't get more clear than that. >> you mentioned bill crystal. when he steps up and says what he says, isn't giving boehner some cover to make the deal that there are some conservative media people out there with some influence that will give him some backup? it seems like solid messaging. >> my little kids use. >> has he lost his influence or just as strong. will he play into this? >> i don't think he's lost the influence that he should have. and he is a key to that super pac money. the super pac money is the big problem here that looms large over the reelections of many of these tea party republicans who fear losing in primaries. if they spread too far from the right, they don't come b
that corporate profits will begin to disappoint and that the global economy will hardly grow next year or even contract. and for that is the reason that stocks from the highs in september at 1470 on the s&p will drop in my view at least 20%. apple has already dropped more than 20%. >> what's causing this global shedo do slowdown? is there any way out of this or is this a messes that we have to live with right now? >> each country has specific problems. i was in vietnam, i've seldom see seen such an overbuild real estate market. it will take years to absorb everything. and vietnam property market is a microcosm of the chinese property market. it will also take years in china to absorb all the properties that are being built. in the western world including japan, the problem is we have too much debt and that debt now will have to be somewhere somehow repaid or it will slow down economic growth. and so i think that we live beyond our means 1980 to 2007 and now it's pay back period. >> it's pay back period but if you have a situation that you expect where the fiscal cliff is one that we never addr
connell laid down the line. they said we will not raise tax rates because this is harmful to the economy and i happen to agree with them i think if we go to tax rates at 45 percent to 50 percent that actually can cause a double dip recession. if that happens, we are not going do have more tax revenues we will have less because more will be unemployed and businesses make small are profit. the problem with revenues right now, we do have a revenue problem in washington, dc, but that is because the who is not growing. people are not paying much taxes because we do not have growth. you get the growth rate up you get an officer if revenue. >>neil: but it could be a democratic strategy for saying we doing all of this, and republicans will count themselves grateful if all they got was eliminating some deductions and putting a cap on write offs. as we have discussed on fox business network, which if you don't have you should demand, but that could be worst than a hike to 39.6 percent because depending on how much the adjust those deductions you could be well over 40 percent. >>guest: that is right. i a
's dealing with the macro events of the economies, not the macro events of the governments. liz: don't you feel if you put ten business people in a room, lock the door, you guys could hammer out a solution to the fiscal cliff, but does that mean, terry, that you would accept, and i don't know nor do i really think it's relevant where you stand as far as right or left is concerned, but some tax hikes and some spending cuts, does it have to be a combination? >> well, i think speaker boehner has it right where he said we need to look at the whole tax code before we start increasing taxes. so i actually think that needs to be evaluated. so i'm not quite sure where the fiscal cliff is going to go. i'm assuming they are going to as they say kick the can down the road for another couple of months. hopefully they take that time period to lay out a foundation over what they are going to do in order for us to put our fiscal house in order. liz: there is citizen duffy and there is businessman ceo duffy. let's talk about the ceo duffy and how your customers and i want to remind our viewers that you ha
, disagree. the economy is far too slow. china is slowing more than expected, europe has problems, nevertheless we will solve the fiscal cliff, going to a lot of heart ache and headaches before then, but ultimately leading tribute celebration modestly in the economy. the market will grind its way higher. david: from your lips to god's ears. todd, we will check in with you to see how the s&p futures closeout. thank you, guys. the founder of the fifth most popular website in the whole world, so where does he think the future of information and technology lies? liz claman in naples, florida, with exclusive interview with wikipedia cofounder jimmy wales. and the drama and the european union continues with leaders not able to make any progress on the dire debt situation. one economist says our situation is not that much different. this u.s. the next greece? what we could be heading down the same path. and gas prices will drop. that is right, drop in time for the holiday travel. how low they are expected to go straight ahead on "after the bell." [ male announcer ] this is steve. he love
about the economy and looming budget cuts and tax hikes this week in the nation's capital. this week on capitol hill, the house and senate and the leadership elections will be under way in both the house and senate side. we expect to hear from members throughout the day tomorrow about those leadership elections as well. the incoming freshman class for the 113th congress is in washington this week. democrats in that freshman class met with reporters today and that's one of the events we covered and you will find that in our video library at cspan .org. four bills and votes if requested coming up at 6:30 eastern. s. 1956. the speaker pro tempore: the clerk will report the title of the bill. the clerk: senate 1956, an act to prohibit operators of civil aircraft of the united states from participating in the european union's emissions trading scheme, and for other purposes. the speaker pro tempore: pursuant to the rule, the gentleman from florida, mr. mica, and the gentleman from west virginia, mr. rahall, each will control 20 minutes. the chair recognizes the gentleman from florida. mr.
policy to help the economy grow and help it continue to create jobs. he is also focused on his national security agenda. he has great confidence in the acting c.i.a. director. he has confidence in his military and the secretary of defense and defense department to carry out the missions that he's assigned to them. he's got a lot he wants to work on and is doing that this week. >> how does that affect his need to advance his security team? >> these are specific questions about specific individuals and posts. i can say now even though you haven't asked that i have no announcements to make with regards to personnel. the president has not made decisions on personnel matters. and you will not hear me discuss them until the president has made those decisions and has announced them. >> these are two of the top military brass either involved in extramarital affair or inappropriate behavior, is the president as commander in chief all worried about a culture, inappropriate culture in the military? >> i really would ask you to not extrapolate broadly. the president has great confidence in the mill
have to solve the problem or our economy will be in the tank in the not too distant future. connell: you said they still have a couple years, maybe two years, before the market really get that is, the bond market, and the interest rates start to shoot up. before we see that, will we see the necessary action was not if you still have low rates, it is not necessarily force the low hand. >> that is right. i think if we get to the point where the market starts to take action to discipline our habit, it is too late for policymakers. that is why we have to do this soon. we cannot wait until the market is tired of this and start imposing higher interest rates which will lead to the devaluing of the dollar and lower standards of living. we will probably make it okay, but do we want to leave it for the people who follow us? i do not think so. connell: the second part i wanted to ask you about was revenue and the republican mindset on this. looking at comments the last few days, it seems as if people are more inclined to say, whatever you call it, rates were closing the loopholes, we will hav
-term economy, about the equivalent of four hurricane countrys hitting the united states each and every year over the next ten years. it would knock 7 percentage points off of the economy over the next ten years, equivalent of $1 trillion gdp, could not as many as eight million or nine million people love of the employment rolls. serious stuff. lori: thanks for talking to us. always appreciated. etna's ceo is one of those executives meeting with president obama tomorrow but today he is sounding off on what the fiscal cliff means tt business. melissa: make money despite the market's penetrating sideways. charles payne joins us next. let's look at the trade on metals as we head to break. not too nervous by hiding out in the backyard or stuffing it in the mattress or what have you down $3 or $4 and that would be uncomfortable. 4g lte is the fastest. so, which supeast 4g lte service would yochoose, based on this chart ? don't rush into it, i'm not looking for the fastest answer. obviously verizon. okay, i have a different chart. going that way, does that make a differenc? look at verizon. it's s
growing 11.6% was a boost there suggesting a turnaround there for the second biggest economy of the world. i'll see how it affects the nikkei today. there's also signs of growth in the u.s. as well. and if leaders there should avoid a fiscal cliff, though we could be getting positive sentiment into the year end. that's a very big focus for financial markets globally as well. domestic issues here in focus. a spat with the political infighting creating a fiscal cliff in japan as well. but investors may get a bit of a breather. party leaders look like they might reach an agreement to allow the government to issue debt covering bonds. and that'll help towards their budget. gdp data on monday in japan showed japan's output shrank 0.9% as well. we'll keep track of that. let's go to the yen. a big issue of course here in japan. 79.47-62. not that much change, but the yen remaining relatively strong. euro/yen 101.14-18. sentiment in the u.s., china. as well as a possible deficit financing bill here in japan, there's still the key matter of earnings. we're not through yet. we're going to have the
. with a turbo-charged ecoboost engines and a hybrid that doubles the fuel economy of the average vehicle. it's an entirely new idea of what a car can be. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> he was the undisputed king of pop, michael jackson, voice behind the best-selling album of all time, a superstar, a musical genius who set the stage for pop music, left a lasting imprint on generations of performers, but despite the late singer's unparalleled talent, jackson's legacy was tarnished by addiction, his loneliness, the ultimate scandal, and now a revealing new book is shedding fresh light on his private struggles, so here's abc's nick watt. ♪ thriller >> there hasn't been anyone that famous i
. it won't be disastrous. the bigger picture is the jolt to the economy, may not be immediate couldn't cause the economy to kick back in to a recession, minus point 9%, to minus 3.5%. maryland has more to worry about. tax rates are going to go up. we will r a state that works closely with the federal government. any cut backs, in nondefense and defense will impact maryland more so than kansas or indiana. >> leaders come back in session today, while we see expiration going to be in session 16 days. can you realistically see them coming up with a resolution? [technical difficulties] >> two years we have been watching this, republicans in the house, democrats in the isn't and the president, kind of going back and forth with this, it's a stare down of sorts. nothing has changed. when congress comes, in nothing has changed. >> realizing that, but something has changed. the u.s. re-elected an individual for the first time, second time, with high unemployment rates. there is a mandate to continue on to his policies. congress, there were slight shifts in the numbers. overall, there is a sens
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